Worried about car theft? A comprehensive car insurance policy can cover your loss if your vehicle gets stolen, provided you follow the correct claim process.
A crook nonchalantly approaches a car under the cover of pitch black darkness on a silent night. He does not have a crowbar with him. And he strides along with the poise of ownership. Without a noise or even a fragment of damage, the car is skilfully unlocked by the thief. He noiselessly gets in and drives away as silent as ever, without eliciting any alarms or destroying the car. And the owner wakes up to a car-less space.
Sounds like a common urban criminal tale or a scene copied from a Bollywood movie? Well, unfortunately it is rather a common occurrence. If life was totally foreseeable and safe, the notion insurance in all probability would never even have conceived. But you do not know what is going to happen around the corner, particularly when you are actually driving your car. This is precisely the reason why car insurance is no longer an option but mandatory as per the Indian law.
If you think about it, you might rather spend your hard-earned bucks on essentials, food, clothes, holidays or even savings than some dreary car insurance plan. It is one investment that you hope to never use. Yes, you worry less and sleep better, thanks to this 'lackluster' spend. For instance, car thieving is as old as cars itself. You might come out from a mall after shopping and find your car vanished or right from your garage. The situation is quite unpredictable and your immediate concern should be to curb the losses rather than chasing after an evasive thief.
There are various car insurance policies offered by leading General Insurance providers, which offers coverage for insured vehicles that are stolen. Some of these insurance providers are:
In the event of theft, the insurance holder must register the claim by calling the customer care center of the insurance provider. They will register the claim and assist you on the claims process and also provide you a claim reference number for further reference. You should also go to the nearest police station and file an FIR if your vehicle has been stolen. Most providers have a time limit for the same.
GST Update: GST of 18% is applicable on car insurance effective from the 1st of July, 2017
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